Retirement Calculator

How this calculator works and what it shows you

This calculator helps you picture your financial future by projecting how your savings might grow. You start by telling it three key things: how much money you have saved right now, how much you plan to add each month, and what annual return you expect from your investments. The calculator then shows you a projected balance at retirement age.

The math here is straightforward and accurate. Your balance grows from two sources: your contributions and the investment returns you earn on that balance. If you have $100,000 earning 6% per year and add $500 a month, the calculator compounds those numbers forward year by year to show your estimated final balance.

The calculator also helps with one of the biggest retirement questions: how much can you spend each year without running out of money? You tell it what percentage of your portfolio you want to withdraw annually, and it shows what that looks like month by month. Many people test both conservative withdrawal rates (around 3%) and optimistic ones (around 4%) to see different scenarios.

Understanding the assumptions

Every number you plug in is an assumption about the future. Your actual returns won't be flat. Some years the market goes up 10% or more, and other years it loses money. Inflation changes how much your dollars are worth. Taxes reduce your earnings depending on account type. Account fees chip away at your balance. All of these things will differ from what you assumed, and that's normal.

This is why the calculator is most powerful when you use it to test multiple scenarios. Start with your best guess about returns, then run it again with lower returns (say, 5% instead of 7%) and higher returns (say, 8% instead of 7%). This gives you a realistic range. Maybe your best case is $1.2 million, your middle case is $950,000, and your conservative case is $750,000. That range is more useful than any single number.

What the calculator doesn't do

This tool assumes a steady contribution amount each month, but most people get raises and bonuses that increase what they save. It assumes a constant annual return, which isn't how markets work. It doesn't account for major life changes like switching jobs, going part-time, unexpected expenses, or inheriting money. It doesn't factor in Social Security, pensions, or rental income. For a complete retirement plan, you'd want to layer on those additional sources separately.

The calculator also doesn't account for taxes on withdrawals, since taxes depend on where your money is held (a 401(k) or Roth IRA are taxed differently than a regular investment account) and your other income sources. And it doesn't predict inflation specifically, though you can adjust your return assumption downward to account for inflation reducing purchasing power.

How to get the most value from this tool

Start with honest numbers. How much do you actually have saved? How much do you realistically contribute each month, not what you wish you could save? For returns, use historical averages as a starting point: stock market returns have averaged around 10% before inflation over very long periods, or around 7% after inflation. If your portfolio is mixed stocks and bonds, you might assume something in the 5% to 7% range depending on your mix.

After you run the calculator once, change your numbers. If you're nervous about your plan, try 5% returns instead of 7%. If the result shows you're on track, try 4% or even 3% to stress-test the scenario. See what contribution level would get you to your goal. Find out how working two more years changes the outcome. These experiments teach you what actually matters to your retirement timeline.

Keep in mind that this calculator is a reality check, not a prediction. It won't tell you the exact amount you'll have at 65 because markets are unpredictable, life brings surprises, and your situation will change. But it will show you whether you're on a reasonable path, where you might have gaps, and what levers (saving more, working longer, adjusting your spending goals) might help you reach your target.

Learn more: IRA, Roth IRA, and Compound Interest Calculator.